Australian drone firm raises $16m in series B money

Australia-based drone logistics company Swoop Aero has raised US$16 million in its series B round led by Main Sequence, with Giant Leap and In-Q-Tel participating.

Photo credit: Swoop Aero

Swoop Aero built its own drone, Kite, to provide delivery services in 12 countries. It claims to have done 15,000 flights overall and delivered around 800,000 medical items across Africa.

Founded in 2017 by Erik Peck (CEO) and Joshua Tepper (CTO), the firm has worked with UNICEF, the Gates Foundation, UK Aid, United States Agency for International Development, UPS, as well as Gavi, the Vaccine Alliance. The Australia-based firm plans to use the fresh funds to scale its operations across Africa, Southeast Asia, Oceania, and Europe and expand its manufacturing capabilities.

“Our goal is to scale that infrastructure layer country by country, so our integrated drone logistics service reaches 1 billion people by 2030,” said Peck.

The global drone delivery market is expected to be worth US$31 billion by 2028. Currently, the US leads the global market in using drones for deliveries.

See also: Aerodyne: Can it remain Malaysia’s drone jewel?

Other investors in the round include:

• Artesian
• Folklore Ventures